ASHTON DIVES HEADFIRST INTO REGION

Ashton Woods Homes dives into Southwest Florida

One of the models Ashton Woods Homes is showing in Rosedale in East
Bradenton. The homebuilder also is at work at the Whitaker Park neighborhood and a new community called Palma Vista off Palma Sola Boulevard and Cortez Avenue, in Bradenton.

Published: Monday, October 14, 2013 at 1:00 a.m.

Last Modified: Saturday, October 12, 2013 at 4:55 p.m.

ONE OF THE LARGEST PRIVATE homebuilders in the country has begun aggressively expanding into Southwest Florida for the first time, spending more than $8 million on land to roll out new communities in Sarasota and Bradenton.

One of the models Ashton Woods Homes is showing in Rosedale in East
Bradenton. The homebuilder also is at work at the Whitaker Park neighborhood and a new community called Palma Vista off Palma Sola Boulevard and Cortez Avenue, in Bradenton.

COURTESY PHOTO

Facts

"Our land guy is talking to people to pick up as many lots as we can. We have a lot of big plans."

– Michael Roche,vice president of sales and marketing for Ashton Woods' Tampa-Orlando division

Executives at Atlanta-based Ashton Woods Homes say that rapidly rising home prices -- and a demand for residential real estate that is greatly outpacing supply -- has made this area its primary focus for Florida expansion this year.

The company's entrance into this market comes as a slew of competing homebuilders are rushing to bring new properties onto the market at the fastest pace since the area's housing bubble began forming nearly a decade ago.

"We had plans to expand across the state, we just had to wait for the economic indicators to get better," said Michael Roche, vice president of sales and marketing for Ashton Woods' Tampa-Orlando division. "When the market turned, Sarasota was a natural progression."

Ashton Woods broke into the market this year with the purchase of about 18 acres near the Sam's Club off Cattlemen Road in Sarasota, for $3.35 million.

The homebuilder already is selling models at its debut Whitaker Park community. The subdivision is slated for 91 single-family homes, with nine model offerings now available. The three- and four-bedroom designs range from 1,710 square feet of living area to 3,111 square feet, priced from $267,990 to $326,990.

Ashton Woods has been building homes in Orlando and Tampa for more than a decade, and it has sold hundreds of homes in those markets this year.

Whitaker Park, along with the 140 homes Ashton Woods will build as part of the new phase of the Rosedale Country Club in East Bradenton, will be the company's first developments in Southwest Florida.

"The inventory is low, and there's limited opportunities," Roche said. "Prices have strongly increased over the past year in Sarasota, so we feel the timing is good."

Ashton Woods doesn't intend to limit its development to Whitaker Park and Rosedale. The builder also has acquired 23 home sites off Palma Sola Boulevard and Cortez Avenue, in Bradenton, for a new community called Palma Vista.

Roche said the company is building three-, four- and five-bedroom homes with Key West-inspired architecture there. Homes will range from 2,400 square feet to 3,800 square feet of living space.

At Rosedale, where Ashton Woods is now selling homes from models, residences will contain three bedrooms and a study, and will range from 1,962 square feet to 2,580 square feet of living space. Prices there are from $319,990.

Roche added that strong initial sales in those communities already has the homebuilder targeting a fourth new development here, together with similar expansion plans in Naples, on Florida's East Coast and in the Panhandle

If they reach fruition, those projects will double the size of the company's Florida footprint within the next year.

"Our land guy is talking to people to pick up as many lots as we can," Roche said. "We have a lot of big plans."

Ashton Woods is not the only homebuilder keeping active in the region, of course.

Builders started construction on 970 single-family housing units in Sarasota-Bradenton during the second quarter, an increase of 71 percent when compared with last year's rate of 568 units, according to industry researcher Metrostudy Corp.

During those same three months, builders sold 755 single-family homes, which was 48 percent higher than the year before.

"We do think building is picking up here and across the nation," said said Tony Polito, regional director of Metrostudy's Sarasota market.

"We have been trending up for really the last year or two. Sarasota is one of those markets that builders know will be strong with baby boomers and retiree demand."

This story appeared in print on page D8

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